IRS Form 1099-DA: Complete guide for crypto investors
Form 1099-DA is the new IRS form US crypto exchanges must use to report customer transactions starting with the 2025 tax year (filed in 2026). What it covers, what it doesn’t, key dates, and how to prepare. Editorial summary — not tax advice.
Timeline
- 2024IRS finalised Form 1099-DA regulations under the Infrastructure Investment and Jobs Act
- Jan 1, 2025Reporting period begins. Exchanges start tracking customer transactions for 1099-DA filing.
- Feb 17, 2026IRS deadline for exchanges to issue 1099-DA forms to customers
- Apr 15, 2026Tax filing deadline. Crypto income reported on Schedule D + Form 8949 using 1099-DA data.
- 2027Cost basis reporting requirement kicks in (currently only proceeds are reported)
What gets reported — and what doesn’t
- Each sale, exchange, or disposal of digital assets
- Gross proceeds from each transaction
- Date acquired (when known by the broker)
- Date sold or disposed
- Customer identifying info (name, address, TIN)
- Cost basis (the price you originally paid) — comes online for 2027 tax year
- Holding period classification (short-term vs long-term)
- Wallet-to-wallet transfers between your own accounts
- DeFi protocol interactions (covered separately under different rules)
- NFT transactions on most platforms (rules still evolving)
How to prepare for 1099-DA filing
Seven steps to take before April 15, 2026 to file accurately.
- 1Verify your name, address, and TIN are accurate on every US exchange you use
- 2Export your 2025 transaction history from each exchange (CSV) before Jan 31, 2026
- 3Cross-reference your 1099-DA against your own records — exchanges sometimes miss transactions
- 4Calculate your own cost basis (since exchanges won't report it for 2025) — use FIFO unless you elect otherwise
- 5Use crypto tax software (CoinLedger, Koinly, CoinTracker) to reconcile across multiple exchanges
- 6File Schedule D + Form 8949 with your 1040 by April 15, 2026
- 7Keep all transaction records for 7 years (IRS audit window)
Frequently asked questions
What is IRS Form 1099-DA?
Form 1099-DA ("Digital Asset Proceeds From Broker Transactions") is a new IRS form that US crypto brokers must use to report customer transactions starting with the 2025 tax year (filed in 2026). It mirrors the long-standing 1099-B used for stock brokerages, adapted for digital assets. The form was finalised in 2024 under the Infrastructure Investment and Jobs Act of 2021.
Who has to file 1099-DA?
Brokers that facilitate digital-asset sales for US customers — Coinbase, Kraken, Gemini, Robinhood Crypto, Crypto.com, and most US-licensed exchanges. Self-custody wallets, fully decentralised DeFi protocols, and non-US exchanges are NOT subject to 1099-DA reporting (yet). The brokers file with the IRS AND send a copy to you.
When will I receive my 1099-DA?
Exchanges must issue 1099-DA forms by February 17, 2026 (the IRS deadline). Most platforms send them earlier in January as PDF downloads in your account or email. You'll need this by the April 15, 2026 tax filing deadline.
Does 1099-DA include cost basis?
NO — not for the 2025 tax year. Brokers only report proceeds (the dollar amount of each sale). You're still responsible for tracking cost basis (what you originally paid) for capital-gains calculation. Cost basis reporting becomes mandatory starting with the 2026 tax year.
What if my 1099-DA is wrong?
Contact the issuing broker immediately. Common errors: missing transactions, misclassified transfers (e.g., a wallet transfer flagged as a sale), or wrong TIN. Brokers can issue corrected forms (1099-DA Corrected). You should reconcile against your own transaction history before filing.
How do I file my crypto taxes using 1099-DA?
Use Schedule D (Capital Gains and Losses) and Form 8949 (Sales and Other Dispositions of Capital Assets) on your Form 1040. The proceeds figure from your 1099-DA goes directly onto Form 8949; you supply the cost basis yourself. Crypto tax software (CoinLedger, Koinly, CoinTracker) imports 1099-DA PDFs and automates Form 8949 generation.
Will 1099-DA cover DeFi and NFTs?
For 2025: mostly no. The IRS is finalising separate rules for DeFi protocols and NFT marketplaces. The current 1099-DA scope is centralised brokers (US-licensed exchanges). Decentralised protocols and self-custody activity remain user-reported on Form 8949 directly. This is expected to expand by 2027-2028.
What if I used multiple exchanges in 2025?
You'll receive a separate 1099-DA from each exchange. Crypto tax software is essentially mandatory for multi-exchange users — it imports each 1099-DA, reconciles across platforms, applies your chosen accounting method (FIFO/LIFO/HIFO), and outputs a consolidated Form 8949. Trying to reconcile manually with three or more exchanges is a recipe for filing errors.
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